Malaysia Aviation Group Bhd is weighing the sale of a minor stake in its air cargo unit to a strategic partner, according to people familiar with the matter. The parent of Malaysia Airlines Bhd. has invited banks to submit proposals as it seeks ways to expand the business, the people said, asking not to be identified because the information is private. A deal could value the unit, known as MASkargo, at more than $1 billion, the people said. Malaysia Aviation Group may also seek as much as … [Read more...] about Parent company weighs minor stake sale in MASkargo
Bloomberg
Asia’s airlines get creative to make space for cargo
Bloomberg Intelligence predicts belly capacity from passenger air fleets won’t return to pre-pandemic levels before 2022. Bloomberg says under normal circumstances, about 60 percent of global air cargo is flown in the belly hold of passenger flights. But with jets parked in deserts waiting out the pandemic, cargo volumes are down this year, whilst air freight costs have soared, with rates on the Hong Kong-North America route up 70 percent from early January. According to Qantas, the May … [Read more...] about Asia’s airlines get creative to make space for cargo
Indonesia’s biggest airport operator looks to cargo amidst slump
PT Angkasa Pura II, Indonesia’s largest airport operator, is pushing ahead with the construction of a new goods-handling facility in Jakarta, betting the movement of cargo will help an industry laid to waste by the reduction in passenger flights, Bloomberg reports. It’s calling upon third parties that are interested in investing alongside it to submit proposals in the fourth quarter. The total investment is “estimated to be 7.5 trillion to 8 trillion rupiah ($545 million),” President … [Read more...] about Indonesia’s biggest airport operator looks to cargo amidst slump
Skyscraping costs to move goods by air set to go even higher
Capacity constraints have driven up rates for international shipments this year whether by sea, air or land, further complicating matters for supply-chain managers dealing with the effects of Covid-19 on their businesses, Bloomberg reports. Limited passenger flights, which handle about half of the world’s airborne cargo, have created a significant reduction in available belly capacity, which has helped drive rates higher despite a decline in demand of about 19%. Air-cargo rates from Hong … [Read more...] about Skyscraping costs to move goods by air set to go even higher
Asia’s exports show mild recovery as Taiwan swings to expansionary mode
Export powerhouses from Asia are showing nascent signs of turning the corner after months of pandemic pummeling from lockdowns, border restrictions and supply-chain snarls, Bloomberg’s Brendan Murray wrote on Supply Lines.. A purchasing managers index (PMI) for Japan advanced last month alongside many others in the region. Amongst a flurry of IHS Markit figures released on 3 August was a survey that showed Taiwan posted its best reading since January, making it the rare economy in the region … [Read more...] about Asia’s exports show mild recovery as Taiwan swings to expansionary mode
